14 Jimmy Ave

Reserve, NM 87830

$92,500C+

2 bd · 2.0 ba · 1,176 sqft · Built 1981 · Other · Active · 58 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,013/mo
• Mortgage (P&I): −$485
• Tax + insurance: −$154
• HOA: −$0
• Vac / Maint / Mgmt: −$213
• Net cashflow: $161/mo
• Annual: $1,929/yr
• Cap rate: 8.38%
• Cash-on-cash: 7.45%
• DSCR: 1.33
• 1% rule: 1.09%
• Cash to close: $25,900

Investor read

• This is a 2-bed/2.0-bath other listed at $92k.
• At list price, monthly cash flow is $161 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $92k).
• It's been on market 58 days — a 3% lower offer ($90k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $90k (3.0% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($640 loan paydown + $4k appreciation (4.8% local appreciation)).
• Location reads 57/100 on livability (#165 in NM) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A; Watch: schools D-, crime F, amenities F.
• Reserve Public Schools (rural): math 35% / reading 40% proficiency, ranked #13 of 95 in NM (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 9 active listings in the ZIP.
• Catron County population projected at -52% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.8% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.